Doosan Enerbility, a South Korean energy firm, signed key agreements with Philippine power giants Meralco and Quezon Power during President Yoon Suk-yeol’s state visit to Manila. The deals, inked at the Korea-Philippines Business Forum, aim to bolster cooperation in nuclear power, small modular reactors (SMRs), and gas turbines.
The memorandum of understanding (MOU) with Meralco, the Philippines’ largest private power company, focuses on accelerating nuclear and SMR projects. Doosan will provide engineering, procurement, and construction expertise. A separate MOU with Quezon Power outlines plans for a 1200MW natural gas combined cycle plant in the Quezon region, designed for potential future conversion to hydrogen.
These partnerships follow a June visit by Meralco executives to Doosan’s Changwon headquarters, highlighting growing interest in Korean energy technology. The agreements are expected to leverage the shared 60Hz frequency between the two countries, facilitating easier integration of Korean gas turbines.
Jeong Yeon-in, Doosan Enerbility’s vice chairman, called the MOUs “an important milestone” in Philippine market cooperation. The deals underscore strengthening economic ties between South Korea and the Philippines, potentially reshaping the Southeast Asian nation’s energy landscape.
